Yemen-backed Houthi militants have launched attacks on ships using the Red Sea route. Logistics companies have begun to abandon this route, which saves time and costs, and are searching for new alternatives. The tension in the region—the shortest shipping route between Europe and Asia, where 12 percent of global logistics takes place and approximately 1 trillion dollars worth of goods are traded annually—could also disrupt global trade.
Oil prices rose
As a result of the events in the region, oil prices have also risen. Brent crude oil has reached the 80 dollar level.
News Source: 12punto
